The gentleman bookmaker caught the industry by surprise by revealing that the VCbet estate had gone to Coral. Industry insiders suggest that a cheque for at least £30m was exchanged.
The Gibraltar based bookmaker has held on to his two flagship betting lounges in Mayfair, London, and Dublin.
“The retention of our luxury betting lounges in Mayfair and Dublin was critical to the deal being completed,” said Victor Chandler.
“The sale of the shops made excellent business sense. Coral made an offer we felt was too good to refuse.”
“UK betting shops are still a key part of our strategy and we will continue to look for opportunities to purchase shops.”
“We\’re extremely delighted to have acquiredsuch a well-run company, and we intend to continue to invest in our shop estate, both through acquisitions and our ongoing upgrade programme,” commented Wilf Walsh, Coral Eurobet Managing Director.
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